NEW
YORK, July 8, 2024 /PRNewswire/ -- The global
automotive control cables market size is estimated to grow by
USD 787.8 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 4.5% during the forecast period. Automotive control cables are
cheap owing to the use of cost-effective materials and the
manufacturing process is driving market growth, with a
trend towards developments in the field of automotive control
cables. However, government guidelines on the use of control
cables for automotive applications poses a challenge. Key market
players include Acey Engineering Pvt. Ltd., BBB Industries LLC,
Cable Manufacturing and Assembly Co. Inc., Chuo Spring Co. Ltd.,
DURA Automotive Systems, Grand Rapids Controls Co. LLC, HI-LEX
Corp., Kalpa Industries, KALTROL, Kongsberg Automotive ASA, KUSTER
Holding GmbH, Minda Corp. Ltd., Panasonic Holdings Corp., Premier
Auto Cables, Silco Automotive Solutions LLP, Suprajit Engineering
Ltd., Tata Sons Pvt. Ltd., Thai Steel Cable Public Co. Ltd., Tyler
Madison Inc., and WR Controls Sweden AB.
![Technavio has announced its latest market research report titled Global automotive control cables market 2024-2028 Technavio has announced its latest market research report titled Global automotive control cables market 2024-2028](https://mma.prnewswire.com/media/2454467/Technavio_Global_automotive_control_cables_market.jpg)
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Automotive Control
Cables Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.5%
|
Market growth
2024-2028
|
USD 787.8
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.23
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
China, US, Japan,
Germany, and India
|
Key companies
profiled
|
Acey Engineering Pvt.
Ltd., BBB Industries LLC, Cable Manufacturing and Assembly Co.
Inc., Chuo Spring Co. Ltd., DURA Automotive Systems, Grand Rapids
Controls Co. LLC, HI-LEX Corp., Kalpa Industries, KALTROL,
Kongsberg Automotive ASA, KUSTER Holding GmbH, Minda Corp. Ltd.,
Panasonic Holdings Corp., Premier Auto Cables, Silco Automotive
Solutions LLP, Suprajit Engineering Ltd., Tata Sons Pvt. Ltd., Thai
Steel Cable Public Co. Ltd., Tyler Madison Inc., and WR Controls
Sweden AB
|
Market Driver
The automotive control cables market is experiencing
advancements in design, manufacturing processes, and materials.
Vendors are utilizing modern techniques to create durable and
dependable control cables, enhancing system efficiency. Advanced
materials like high-strength aluminum are used to minimize wear and
tear, reducing the likelihood of cracks. Quick-fit snap mechanisms
and plastic abutments facilitate easy installation, while improved
crimping processes ensure better performance for both plastic and
metallic abutments. Flexible conduits with twin-wire are
incorporated for ease of use. Additionally, certain control cables
offer online control and guarantee pullout loads for end
settings.
The Automotive Control Cables market is experiencing significant
growth due to increasing automobile vehicle sales across various
types, including passenger automobiles and commercial vehicle
models. The market encompasses various control cables such as brake
cables, clutch cables, transmission cables, and engine accelerators
for wires used in vehicles. The absolute dollar opportunity is
substantial, with the International Energy Agency projecting
continued growth in automobile sales. Key components include
stainless steel wires for transmissions, clutches, and brakes, as
well as wires for audio systems and electromobility in electric
vehicles. Road safety is a top priority, with legislation mandating
the use of shielded automotive wire to protect against high
temperatures, moisture, and oil contamination. The market also
caters to the defense industry, with applications in armored
vehicles and aircraft. The geopolitical rift and global defense
spending have created opportunities for OEMs in the OEM segment.
Additionally, the market includes car battery cables and cockpit
wiring. Varieties of vehicles and their components continue to
evolve, with trends in electromobility and safety driving
innovation.
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Market Challenges
- The automotive control cables market is significantly
influenced by government regulations and standards. These rules aim
to enhance vehicle safety, decrease carbon emissions, and boost
energy efficiency. However, they present challenges for control
cable manufacturers. Various countries have established quality
standards and specifications for automotive control cables, such as
India's Automotive Industry
Standards Committee and JASO F 903-75 for automobiles and JASO
T 001-97 for motorcycles. These standards outline requirements for
appearance, design, tolerance, performance, and quality for
different control cable components. To meet these standards, cables
must pass durability and endurance tests, ensuring minimal error
for vendors. Despite the challenges, adherence to these regulations
ensures the production of high-quality, reliable control cables for
the automotive industry.
- The Automotive Control Cables market faces several challenges
in various sectors. In the automotive industry, selecting suitable
coating materials for Polyethylene and PVC cables is crucial for
Compact Cars and OEM segments to ensure reliability and redundancy.
Coating materials must withstand extreme temperatures and resist
abrasion. In the Defense sector, armored vehicles and military
ships require specialized cables for mechanical cable controls,
flight control, engine control, landing gear, aircraft seating, and
cabin equipment. Defense forces' geopolitical rifts impact global
defense spending, affecting the demand for these cables. Regulatory
requirements for wire material and jacket material are stringent in
the Aviation industry, with wiring harnesses used in commercial
aircraft like the Airbus A380 requiring high-performance materials.
Maritime activities, including coastal shipping, also demand robust
cable solutions to withstand harsh conditions. Car battery cables
and cockpit controls in vehicles also require high-quality,
reliable cable solutions. The market must adapt to evolving
technology and regulatory requirements while ensuring affordability
and efficiency.
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challenges - Request a sample report!
Segment Overview
This automotive control cables market report extensively covers
market segmentation by
- Application
- 1.1 Passenger car
- 1.2 Commercial vehicle
- Geography
- 2.1 APAC
- 2.2 North America
- 2.3 Europe
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Passenger car- The Automotive Control Cables Market
is experiencing significant growth due to the increasing demand for
advanced driver-assistance systems and electric vehicles.
Manufacturers are focusing on producing high-quality, durable
cables to ensure vehicle safety and performance. Key players in the
market include Bosch, Continental AG, and Sumitomo Electric
Industries, who are investing in research and development to
innovate and meet consumer needs. The market is expected to
continue expanding, driven by technological advancements and
growing automotive production.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Automotive Control Cables market encompasses a range of
wires used in various vehicle systems, including brake cables,
clutch cables, transmission cables, and engine accelerators for
passenger automobiles and commercial vehicles. These cables are
essential components that ensure smooth transmission of signals and
power between vehicle parts. The market's absolute dollar
opportunity is driven by increasing automobile vehicle sales and
the demand for advanced safety features in vehicles. The
International Energy Agency projects that global passenger
automobile sales will reach 100 million units by 2025. The market
is also influenced by factors such as road accidents, safety
regulations, and the need for wiring harnesses in cockpit displays,
defense forces, and commercial aircraft like the Airbus A380.
Stainless steel wires are commonly used due to their durability and
resistance to corrosion. Geopolitical rifts and global defense
spending on armored vehicles and military aircraft are also
significant market drivers.
Market Research Overview
The Automotive Control Cables market caters to the demand for
various types of vehicles, including passenger automobiles and
commercial models. The market comprises several types of control
cables, such as brake cables, clutch cables, transmission cables,
and engine accelerators, among others, used in vehicles'
transmissions, clutches, brakes, audio systems, and other
components. The market presents an absolute dollar opportunity,
driven by increasing automobile vehicle sales and the growing
demand for safety features in vehicles. The International Energy
Agency projects continued growth in automobile sales, particularly
in emerging economies. Factors like road accidents, safety, and
legislation are driving the demand for reliable and redundant
control cables. Varieties of control cables include stainless steel
wires, shielded automotive wires, and cables coated with materials
like Polyethylene cable, PVC, and Polyethylene. The market also
caters to non-automotive industries, such as defense forces and
commercial aircraft, with applications in wiring harnesses,
formboards, wire bundles, and mechanical cable controls for flight
and engine control, landing gear, aircraft seating, cabin
equipment, and more. The market is subject to regulatory
requirements and geopolitical rifts, with global defense spending
and maritime activities, including coastal shipping and military
ships, contributing to the demand for specialized control
cables.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Car
- Commercial Vehicle
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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